Report: Fortunoff families purchase company IP

Westbury, N.Y. The Fortunoff and Mayrock families who owned and operated Fortunoff before its sale to private equity firms have purchased all the intellectual property of the now-bankrupt company, according to the New York Daily News.

The families, which are researching ways to relaunch the brand, bought the property for about $1.8 million, the report said. This includes brand name, related trademarks, customer lists, domain names and copyrighted material.

The company has been liquidating its assets since February, when it filed for bankruptcy and its parent company NRDC Equity Partners LLC was unable to find buyers to continue running the chain.